Pricing Table Topics: King of Clubs – Willingness to Pay Drives Pricing (opens in new tab)

This one is the King of Clubs from the Impact Pricing card deck. Sadly, too many companies still use cost-plus pricing. We take the cost of manufacturing or creating something, we add a margin, and there's our price. It's easy. We know we're making margin, but are we maximizing our profit? Maybe we're pricing so high that we miss out on some customers, or maybe we're pricing so low that we're missing out on what some customers would be willing to pay us. Think about it this way. Imagine that ...